Bank FD Comparison Calculator

Compare fixed deposit rates across major banks including SBI, HDFC, and ICICI to find the best FD investment option.

About This Calculator

Fixed Deposit rates vary across banks and tenure periods. Our comparison calculator helps you find the best FD option by comparing rates from major banks for your specific investment amount and tenure.

The calculator uses current FD rates from leading banks and shows you which bank offers the highest returns for your investment, helping you make informed decisions.

Banks Compared:

  • State Bank of India (SBI): India's largest public sector bank
  • HDFC Bank: Leading private sector bank
  • ICICI Bank: Major private sector bank

FD Rate Factors:

  • Tenure: Longer tenures typically offer higher rates
  • Amount: Some banks offer higher rates for larger deposits
  • Customer Type: Senior citizens get additional interest
  • Bank Policy: Each bank has different rate structures

Features:

  • Real-time rate comparison across major banks
  • Tenure-based rate selection
  • Maturity amount calculation
  • Visual comparison charts
  • Best option recommendation

Frequently Asked Questions

Which bank offers the highest FD interest rate in India?

Small finance banks like AU Small Finance Bank, Ujjivan, and Equitas typically offer the highest FD rates (7.5-8.5%). Among major banks, HDFC Bank, Axis Bank, and IDFC First Bank offer competitive rates around 7-7.5%. SBI offers lower rates (6.5-7%) but has higher safety perception. Our calculator compares rates across all major banks.

How to choose the best FD for investment?

Consider: 1) Interest rate (higher is better), 2) Bank reputation and safety (PSU banks considered safer), 3) Tenure options (flexible tenures help), 4) Premature withdrawal penalty (lower is better), 5) Loan against FD facility, 6) Senior citizen benefits (extra 0.5%). Use our calculator to compare rates and choose the best option.

What is the current FD interest rate in India?

FD interest rates in India (2026): SBI: 6.5-7%, HDFC Bank: 7-7.5%, ICICI Bank: 6.5-7%, Axis Bank: 7-7.5%, IDFC First Bank: 7-7.5%, Small Finance Banks: 7.5-8.5%. Rates vary by tenure - longer tenures (2-5 years) typically offer higher rates. Senior citizens get additional 0.5%.

Are small finance bank FDs safe?

Small finance bank FDs are insured by DICGC up to ₹5 lakh per depositor per bank, same as major banks. They are regulated by RBI and must maintain required capital adequacy. While they offer higher rates, they may have slightly higher risk perception than major banks. For amounts above ₹5 lakh, consider diversifying across multiple banks.

What is the minimum FD investment amount?

Minimum FD investment varies by bank: Most major banks (SBI, HDFC, ICICI): ₹1,000, Some banks: ₹500, Small finance banks: ₹1,000-5,000. There's no maximum limit. For higher amounts (₹1 crore+), banks may offer special rates called bulk deposits. Start with minimum and build your FD portfolio gradually.

How does FD tenure affect interest rate?

FD rates typically increase with tenure. Short tenures (7-90 days): 4-5%, Medium tenures (1-2 years): 6-7%, Long tenures (2-5 years): 7-7.5%. Very long tenures (5-10 years) may have slightly lower rates. Banks offer higher rates for longer tenures to lock in funds. Choose tenure based on your goal and rate curve.

What are the tax implications of FD interest?

FD interest is fully taxable as 'Income from Other Sources' at your slab rate. TDS is deducted at 10% if interest exceeds ₹40,000/year (₹50,000 for seniors). Submit Form 15G/15H to avoid TDS if total income is below taxable limit. 5-year tax-saving FDs offer deduction under Section 80C up to ₹1.5 lakh.

Can I break my FD before maturity?

Yes, you can prematurely withdraw FD but with penalty. Premature withdrawal penalty is typically 0.5-1% of the interest rate. For example, if FD rate is 7%, you'll get 6-6.5% on premature withdrawal. Some banks waive penalty for senior citizens or in emergencies. Consider liquidity needs before choosing tenure.

What is the difference between cumulative and non-cumulative FD?

Cumulative FD: Interest is reinvested and paid at maturity (compounding effect). Higher effective returns. Non-cumulative FD: Interest is paid periodically (monthly/quarterly/annually). Good for regular income. Choose cumulative for wealth building, non-cumulative for regular income needs. Our calculator shows both options.

How much extra interest do senior citizens get on FD?

Senior citizens (60+ years) typically get additional 0.5% interest on FDs across all banks. Some banks offer up to 0.75% extra. For example, if regular FD rate is 7%, senior citizens get 7.5-7.75%. This benefit applies to most tenures. Senior citizens also get higher TDS threshold (₹50,000 vs ₹40,000).